Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.
Fighting back tears, the outgoing prime minister said she had "done everything" she could to honor the 2016 EU referendum result. But, with "deep regret," she had been unable to deliver Brexit and lost the support of many within her own party.Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite, having already received nominations for a leadership bid from former Defense Secretary Gavin Williamson and Tory lawmaker Johnny Mercer.
"Historically, in Conservative leadership contests it's usually not the front-runner, but the underdog that tends to win," Jordan Rochester, a foreign exchange strategist at Nomura, said in a research note published Thursday. Environment Secretary Michael Gove, former House of Commons leader Andrea Leadsom and Foreign Secretary Jeremy Hunt each have a 7% likelihood of succeeding May, according to bookmakers.
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